Downturn in US economy 'ending'

US Federal Reserve policymakers are increasingly confident the downturn in the US economy is ending, minutes from their latest meeting show. The assessment by recently re-appointed Fed Chairman Ben Bernanke and his colleagues struck a more upbeat tone than the last assessment in late June. But there was uncertainty about how quickly the economy would grow in 2010.

Unemployment, which is set to move above 10% this year, may impact on consumer behaviour, they warned. However the Fed said that consumer spending appeared to be levelling out and that the housing market was becoming more solid, while manufacturing was stabilising. The prospects for US exporters will also brighten, as the economies of other countries improved, the policymakers added.
Source: www.bbc.co.uk

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